Rating agency affirms Regence’s financial strength

Regence is financially strong and well positioned to meet its members’ needs, according to ratings recently issued by A.M. Best, a well-known financial rating agency. The agency has notified us that it has affirmed the “excellent” ratings previously assigned to Regence companies. Our rating for both Regence BlueCross BlueShield of Oregon and Regence Life and Health Insurance Company remain A- (excellent).

This affirmation of our ratings and financial strength is even more compelling considering A.M. Best’s generally negative outlook for the health insurance sector as a whole and recent downgrades of some other health plans. The rating affirmation from A.M. Best is one more indicator that our performance is solid and that we are well positioned to serve our communities over the long term.

As A.M. Best describes it, “The Financial Strength rating opinion addresses the relative ability of an insurer to meet its ongoing insurance obligations. The rating is based on a comprehensive quantitative and qualitative evaluation of a company’s balance sheet strength, operating performance and business profile.”

While the ratings are indicative of our financial strength overall, our continued attention to operating expense is a big factor. As a not-for-profit health plan, our philosophy is to make “just enough” money to serve our members’ needs. Clearly, we have a responsibility as stewards of our members’ premium dollars to manage resources wisely and judiciously so they are available when our members need them.

That’s easier when the economy is financially strong. However, when the overall economy is weak, maintaining our financial strength becomes more challenging. Our members are counting on us to achieve the right balance as we stringently manage our financial resources to benefit our members, our company and our communities. Thank you for the part you play in ensuring that we achieve that balance.

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